Discuss the criteria used to determine whether a building is residential or nonresidential realty. Also explain the tax consequences resulting from this determination if the property is placed in service in 2017
Residential realty is property for which 80% or more of the gross rental revenues are from nontransient dwelling units. Residential realty has a recovery period of 27.5 years. Nonresidential realty has a recovery period of 39 years.
You might also like to view...
People have local tastes based on their unique cultures and traditions–a good candy bar in Brazil is not the same as a good candy bar in China
Indicate whether the statement is true or false
Which list below presents the Maslow hierarchy of needs in its correct order, beginning with the lowest level need and moving up to the highest level need?
A. self-actualization, social, safety, physiological, and personal B. physiological, safety, social, personal, and self-actualization C. safety, physiological, safety, self-actualization, and personal D. personal, social, physiological, psychological, and safety E. safety, personal, self-actualization, physiological, and social
Few companies and organizations take ethics very seriously
Indicate whether the statement is true or false
The purpose of a stress interview is to observe how an interviewee performs in an anxiety-producing situation
Indicate whether the statement is true or false